⌛ The US Dollar - Peso Merry go Round

Recently, especially for the expats, the US dollar had a high of 49.87 against the Phil peso. Now, it has dropped down to 46.80. This is quite a dip in just the last week or so.

I guess the world economy is affecting everyone.

2 bb

 

Hey you have to be joking. About 4 months ago I got 42 peso's for my Australian dollar. It got as low as 28 peso's to the Australian dollar recently. Now THAT is quite a dip !

In my considered oppinion/wild guess, its "good bye US dollars and hello Australian dollars". The Australia is about 70 cents US, up from near 59 cents/60 cents US.

Also the term expats does not refer specifically to Americans, it can include Canadians, Italians, or even Australians, etc.

The world economy is affecting everyone, well almost, unless you live in an iglo and then the biggest concern might be your melting home.

 

It's more of a see-saw than a merry-go-round, dontcha think?

 

The peso always does a jump right before Xmas. Look for it to be back to 48+ by mid january.

Larry

 

the dollar have appreciated heavily against world currencies in recent months. with interest rates been pushed to near zero in the usa(funds/countries/people then move funds to countries where they get higher interest rates - i.e. sell dollars), to try and avoid deflation there are alot of economists saying that the dollar could crash, the worst prediction i read was a fall of 60% from current values but that is a bit extreme and there is not much consensus, other economist saying it will continue to appreciate
(the last usa non retail bond issue was sold below 0%, people have accepted that they will loose money on their investment, that is crazy stuff)

but if the yanks out there expect to continue getting 45-50 pesos, u could do some research on the possibilities of a dollar crash, do a comparison chart against the british pounds value. both countries have pursued similar economic policies. most countries are in a similar boat. so do some saving.

if u are only interested in the amount of pesos u get against the us dollar, you are probably insulated against the fluctuations seen by the the non americans in dumaguete, as 50% of remittance money is in dollars and so the peso is pegged to the dollar even if the dollar crashes, next year will probably see a reduction in remittance money, which props up the peso(note shadows comment - this is caused by a seasonal 30% increase in remittance pre chistmas)

anyway we will see in time, january/feb is going to be exceptionally bad news for employment. crazy times and yet kinda exciting

 

and if you think Bush is the reason just throw a shoe at him or two like many others did before...

Throw your shoe

joke na lang...

Rhoody

 

No only when the Dollar is goning down against the Euro.
I get now about 700 pesos more for 100 euro as one month ago.
100 Euro is now about 6700 pesos.:D

Greetings J.Diver

 

The US dollar

If the shoe fits, wear it.

 

I am in the "dollar is going to crash", group although that might be wishful thinking.

Some have asked for investment advice. Well here is a good idea. The Australian gov.will honour any bank deposits up to about $1,000,000 I think. If you have US dollars open a savings account in Australia in Australian dollars, you have nothing to loose and there could be big gains if the US dollar goes under. If you did that about 30 days ago you would be comfortably ahead.

 

The WORLD is buying the DOLLAR for safety> Cause right now it is the safest bet (and the question is how long will it last)